Concentrix (NASDAQ:CNXC) Stock Price Up 5.1% – Still a Buy?

Concentrix Corporation (NASDAQ:CNXC)’s stock price traded up 5.1% during trading on Wednesday. The stock traded as high as $25.94 and last traded at $26.1050. Approximately 499,778 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 1,653,338 shares. The stock had previously closed at $24.84.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CNXC shares. Barrington Research reduced their price target on Concentrix from $38.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, June 30th. Bank of America reaffirmed a “neutral” rating and issued a $29.00 price target on shares of Concentrix in a report on Thursday, October 1st. Robert W. Baird dropped their price target on Concentrix from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. Canaccord Genuity Group reissued a “buy” rating and set a $45.00 target price on shares of Concentrix in a research report on Wednesday, September 30th. Finally, Zacks Research upgraded Concentrix from a “strong sell” rating to a “hold” rating in a research note on Monday, August 31st. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Concentrix currently has an average rating of “Hold” and an average price target of $33.50.

Concentrix Stock Performance

The stock’s fifty day simple moving average is $27.24 and its 200-day simple moving average is $26.23. The company has a current ratio of 1.23, a quick ratio of 1.18 and a debt-to-equity ratio of 2.22. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -0.68, a price-to-earnings-growth ratio of 0.50 and a beta of 0.52.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings data on Tuesday, September 29th. The company reported $2.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.21. Concentrix had a positive return on equity of 25.00% and a negative net margin of 23.99%.The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.48 billion. During the same period in the prior year, the firm posted $2.78 EPS. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. Concentrix has set its FY 2026 guidance at 10.970-11.090 EPS and its Q4 2026 guidance at 2.860-2.980 EPS. Analysts predict that Concentrix Corporation will post 9.77 EPS for the current year.

Concentrix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 3rd. Investors of record on Friday, October 23rd will be issued a $0.37 dividend. The ex-dividend date is Friday, October 23rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.6%. This is an increase from Concentrix’s previous quarterly dividend of $0.36. Concentrix’s payout ratio is currently -3.80%.

Hedge Funds Weigh In On Concentrix

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Concentrix by 9.8% during the third quarter. GAMMA Investing LLC now owns 4,556 shares of the company’s stock worth $114,000 after acquiring an additional 405 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in Concentrix by 5.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 11,200 shares of the company’s stock valued at $251,000 after purchasing an additional 600 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Concentrix during the second quarter valued at approximately $25,000. Nykredit A S purchased a new stake in shares of Concentrix in the second quarter worth approximately $29,000. Finally, Webster Bank N. A. purchased a new stake in Concentrix in the first quarter worth $41,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

About Concentrix

Concentrix Corporation (NASDAQ: CNXC) is a global technology and services company that helps businesses improve customer engagement, operational performance and digital experiences. The company provides customer experience management, business process outsourcing, technology services and consulting to organizations across industries including technology, retail, healthcare, financial services, communications and travel.

Its offerings include customer care and technical support, sales and revenue generation, fraud prevention, analytics, artificial intelligence, automation, digital transformation and back-office services.